An alleged N11 billion loan scam involving the procurement of thousands of motorcycles has brought Sa’idu Abubakar, a former accountant-general of Bauchi State, to justice before the state’s High Court.
The 16-count accusation against Abubakar includes allegations of misappropriation of public funds, forgery, criminal breach of trust, misuse of office, and other connected offences. He was docked on Friday.
Court records indicate that the ex-accountant-general reportedly redirected N3 billion from a loan facility that was secured from UBA Bank to buy five thousand motorcycles that did not exist.
The state government and the Bauchi State House of Assembly were led to believe that he had official sanction for unlawful lending facilities, according to the prosecution.
According to investigators, the unauthorised issuance and use of approval documents was caused by the alleged deception.
The accusation sheet further stated that Abubakar used borrowing facilities from Polaris Bank (N4.65 billion) and UBA Bank (N3.36 billion) for projects involving the purchase of motorcycles.
Prosecutors said that the defendant had fabricated documents in his possession and had unlawfully created irrevocable standing payment orders.
The prosecution has stated that it will submit a number of documents in support of its case. These include decisions from the Executive Council and the House of Assembly, official correspondence, bank records, investigative reports, testimony from witnesses, and papers pertaining to ISPO.
Additionally, it was revealed that individuals associated in the transactions, including government officials, investigators, and financial staff, would be giving testimony throughout the proceedings.
Abubakar is expected to react to the claims when the matter continues before the Bauchi State Financial Crimes Court.